Though it is now in the position of backstopping a broader market crash, FTX is reportedly one of the firms that liquidated Celsius – the troubled crypto lending platform that was forced to halt all user withdraws last week. Celsius, one of BlockFi’s competitors, reportedly ran out of funds to repay depositors due to a series of risky decentralized finance bets.
Source: https://www.coindesk.com/business/2022/06/21/blockfi-receives-250m-credit-facility-from-ftx/?utm_medium=referral&utm_source=rss&utm_campaign=headlines